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    Historic Mixed-Use Building Title is generated by Realmo AI

    505 Wildwood Avenue, Jackson, MI 49201

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    For Sale
    $550,000

    COMMERCIAL - Jackson, MI

    Type:Office
    Property size:
    6,357 SF
    Lot size:
    0.30 Acres
    Price / SF:
    $86/SF
    Added:
    Jun 5, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 7 at 12:06 am

    Property Features for 505 Wildwood Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Bathrooms
    5
    Rooms
    Bathroom 1, Basement, Bathroom 5, Bathroom 4, Bathroom 3, Bathroom 2
    Parking
    19
    Interior features
    Broadband
    Standard status
    Active
    APN
    2-005700000
    Size
    6,357 SF
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    BEG AT NW COR OF LOT 6 TH SE ALG S LN OF WILDWOOD AVE 92.94 FT TH S20(DEGREES)30' E 74.26 FT TH S69(DEGREES)05'E 20.65 F
    Tax Annual Amount
    13875

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Floors in Building
    4
    Number of units
    1
    Building materials
    Brick
    Roof type
    Slate

    We can help!

    Listing Contact
    SUSAN M MOHLMAN

    Listing agent SUSAN M MOHLMAN License #6502111869

    Listing office Sproat Realty Professionals-J 4050 Lansing Ave., LESLIE, MI

    Listing date Jun 5, 2026

    MLS# 26027481

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Historic property in Downtown Jackson’s Historic District with 8 bedrooms, 2 full baths, and 3 half baths across four levels
    • Some of the city’s flexible zoning allowing uses such as retail, professional offices, mixed‑use, event space, bed & breakfast, Airbnb, individual room rentals, live/work, multifamily conversion, or single‑family residence
    • 2019 major systems updates: plumbing and electrical substantially updated; extensive drywall repairs; mini‑split heating and cooling installed on upper levels; baths newly added or renovated
    • 2021 main‑level HVAC system installed; 2022 basement walls cleaned, sandblasted, and sealed; asbestos removed and additional ceiling insulation installed
    • Outdoor and accessibility improvements include 2020 concrete patio, wrought iron fencing, pergola, and rear deck
    • Parking lot asphalt resurfaced and repaired in 2023 (approximately $15,000); third‑floor laundry area added and ceiling fans installed on the third floor

    Overview

    This architecturally distinctive historic building offers four levels of usable space with original historic details preserved throughout. The configuration includes 8 bedrooms, 2 full baths, and 3 half baths, with the bedrooms and bath count noted for the two upper floors. Recent improvements include substantial plumbing and electrical updates completed in 2019, extensive drywall repairs, updated bath renovations, and mini-split heating and cooling installed on the upper levels. The seller also reports exterior wood trim repainted and interior and exterior accessibility-oriented improvements completed alongside a concrete patio, wrought iron fencing, a pergola, and a rear deck added in 2020. Additional work includes asbestos removal, added ceiling insulation, a new main-level HVAC system in 2021, and basement wall cleaning, sandblasting, and sealing in 2022.

    Located in Downtown Jackson’s Historic District, the property is surrounded by restaurants, entertainment, businesses, and ongoing redevelopment, supporting a broad range of concepts under its flexible zoning framework.

    With updates to core building systems, multiple bathroom configurations, and exterior improvements aimed at accessibility, the property can fit owner-operators and investors seeking a distinctive platform for uses such as retail, professional offices, live/work, event space, or hospitality concepts including bed and breakfast or individual room rentals. The seller will remove wall decor before possession unless requested in writing, and most interior furnishings and contents may be sold separately, with a piano excluded from any contents sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Baughey-Dybata Peggy Counselor Martha Kelley Foster Care Service Fossores Chapter House Training Center Ms. Catherine Baughey Counselor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jackson
    County
    Jackson
    State
    Michigan
    Longitude
    -84.416889
    Latitude
    42.248122

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    FAQs

    What type of property is this?
    Live-work space - Four-level historic property with preserved original details, updated systems, and flexible zoning for multiple income and business uses.
    Where is this live-work space located?
    The property is located at 505 Wildwood Avenue Jackson, MI.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Historic property in Downtown Jackson’s Historic District with 8 bedrooms, 2 full baths, and 3 half baths across four levels; Some of the city’s flexible zoning allowing uses such as retail, professional offices, mixed‑use, event space, bed & breakfast, Airbnb, individual room rentals, live/work, multifamily conversion, or single‑family residence; 2019 major systems updates: plumbing and electrical substantially updated; extensive drywall repairs; mini‑split heating and cooling installed on upper levels; baths newly added or renovated
    (517) 206-3332
    We can help!
    Listing Contact
    SUSAN M MOHLMAN
    Real Estate License ID: 6502111869
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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